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setting the applecart. apple earnings better than expected, for the most part and the market responds after hours. >> and midwest flooding, rain and snow soaked the country's midsection and the worst may be yet to come for businesses and farmers. >> and hollywood's new courtship. why the movie industry is seducing aging baby boomers. all of that and more on "nightly business report" for tuesday april 23rd. good evening, everyone. tyler, what a day. a lot of drama, a lot of suspensisu spen suspense. there was that surprising sell-off on wall street and the apple earnings after the market closed and. >> and yet when all was said and done the markets gaining for the third straight day, despite a mid-session sell-off on a fake tweet that spooked already jittery traders, but the big story right now is apple's second-quarter earnings and the news was mostly good. apple beat on the top and bottom lines on strong sales of the iphone and the ipad tablet. it's increasing a stock buyback program by a staggering $50 billion, spending some of its sh hrd and it's beg. >>ing up its dividend 15%, but
see what investors are expecting and hoping to hear from apple. >> if there's one tech company to focus on, it's appear he he will. >> it's an important quarter for the iphone and ipadaker, investors would like an a crease to the dividend. it's at a 2.5% yield. they would like something closer to 4. the stock is trading near the lowest level because of the worries of the days of profitability of the company being over. expectations for the march quarter keep racheting down, because we are in the middle of a product refresh vacuum. right? but it's not only the march quarter that investors are concerned about. they are concerned about the june quarter that may show more signs of a slow-down as existing,iphone 5 an ipad strt to show age and in front of the next launch of the products. >> apple has already poured cold water on wall street's hopes for surprise up side, saying that sales will be up to around $42 billion. and margins will be down and unlike in the past, this time management promises those projections will prove accurate. a key story line to watch with the stock, pc ve
as they sitting through the latest reports from apple, ink. good morning. what do investors see in apple? >> good morning. the latest financial results from the tech giant were better than most analysts predicted. still, investors see a loss of momentum because officials and apple saw their quarterly earnings fall for the first time in a decade. they say the decline in the january to march period stems from sales of lower priced products. officials said on tuesday their net profit tumbled nearly 18% year on year in the last quarter to less than $10 billion. earnings are down despite an 11% rise in sales to more than $43 billion. customers chose cheaper models with smaller profit margins. but chief executive, tim cook, said he's optimistic about apple's future and said the recent fall in the sre price has been frustrating to him and his staff but added the company's position remains strong. apple officials said they will share $55 billion in profit with stakeholders through dividends and share buybacks. investors see this decision as a way to ease tensions over apple's lackluster performance and f
,000 apps in the apple store, 700,000 in the google store. it's enormous. >> rose: speaking ofing into this will idea sometimes advances. the app explosion means the people are going use apps for search and not google. >> well, certain search. is we have a map willing service and google has a very popular mapping service. waves has started to -- >> rose: as apple found out. >> well, waves is the one they probably should have bought but there's all kinds of alternatives so google, that's why they had to get in the phone business, they wanted to keep e sear biness, which is paying for everything, their crazy cars and glasses and everything else so they have to keep search -- they have to be on the phone being the search choice. is >> even apple, their enemy, they pay apple-- i don't know what the terms are-- but there's some money that changes hands for google to be the default search on the iphone there are other choices. but on android there's a big google search field right there. this facebook phone, one of the things that i'm sure -- let me just say officially eric schmidt of g
as shares of apple fell in relation to one of the suppliers on its outlook sighting in ipad shipments. we're going to being looking out for component suppliers here in japan that make a lot of parts that go into products such as tablets and smart phones of which apple makes many of those as well. we keep track of that sector as well. >> kicking off later today the g-20 over in washington, d.c. as we've been reporting a lot of focus will be on the recent weakening yen. where do we stand lead of that key meeting? >> a lot of market players will be watching the g-20 meeting and thedollar/yen. that may trade in a ltle bit of rgehead of that meeting and it's still weaker than it was this time yesterday when it was at the mid 97 yen levels. we'll keep track of that. the euro/yen 127.54 to 59. it traded up to upper 129 during wednesday. as you can see now 127.49 to 52. there were concerns that the european central bank may cut interest rates to boost growt in the euro zone. we'll keep track of currency markets. a bit of a focus there for the tech sector following those moves in apple shares and
points dragged down by shares of apple which dipped below $400 a share today before closing at $402. that after cirius logic hinted at a slowdown in production iphones d ipads. >>> jp morgan chase with a 3.5% decline. bob fasanni has more on today's action in the markets from the floor of the new york stock exchange. >> reporter: it was another whip saw day that started ugly right off the bat. the problem is that key commodities like copper, aluminum and nickel were again dropping at essentially 52-week lows, all on concerns out slowing global growth. key commodities hit 52-week lows as well. and while commodity stocks like materials and energy suffered, there were also notable decline in industrials and in financials like bank of america which missed earnings estimates. and in technology stocks, tech bell whether apple hit a new 52-week low on concerns whether slowing iphone and ipad sales. the market stays a modest midday whetheword being made in the boston marathon investigation and, again, moved down toward the close. >> the problem for the stock market is a simple one. the mark
in the technology space. and you see a company like apple once, you know, the darling of the tech sector. now it's, you know, kind of a bren company, so to speak. what is it, shook, that defines what makes a winner in the technology space versus an also ran? >> absolutely. going back to the apple story, i think the company's meteoric stock rise from its mid-peak to $700 i think reflected disruptive in cycle both in terms of price and unit so the company came in and dominated the tablet market, came in and was creator of snificant value in t smartphone segment. and i think the company has been able to right that cycle, but now, of course, it's on the other side of that mountain, so to speak. so over $200 billion of market cap has been removed. and so the company is looking forward, our best position, as you pointed out, in this undergoing transformation of the technology value chain, our position at the nexus or the intersection of -- in a consumer or cloud, the information, the mobility and social media, so we think the three companies that should benefit longer term are google, amazon and three
ago. >> and now for the final stock, apple, which doesn't fit in either one of these categories. but you saw it's a terrific buy. today the stock was down again. it's now trading at $3. why are y sing that put money into apple now? >> a year ago, there was too much euphoria. today there is too much pessimism. look, apple is reflecting an absolutely worst case scenario with earnings there to be reported this tuesday. there is likelihood it's not going to be that bad. and if tim cook can lay out a plan for a capital outlays to shareholders in terms of dividend increases and share buybacks and reassure investors of their products and their vision for products, i think this stock could be much higher next week. >> all right. very interesting information. thank you so much, hank. any disclosures to make? do you own any of these stocks? >> we own them all, and i own them all personally. >> thank you so much. have a great weekend. hank smith of haverford. >> thank you. >>> and coming up next, as the price of gold and silver plunge, we'll take you to one of the country's largest coin sh
's silicon valley, apple, facebook and google, among others, have reinvented the gold rush. but down the road in san jose it's not so pretty a picture. do the math, in an area where one fourth of the population earn an average of about $19,000 a year, rent alone can average morthan $20,000 dollars a year, and that difference adds up to homelessness. we talked to associated press reporter martha mendoza, who brought this story to our attention. >> i've been a journalist in this area for 25 years, and during that time it has gone from having a pretty robust middleclass to being an area where you see this great divide of wealthy and poor, and nowhere do you see that more than in the silicon valley, where 25 years ago this was a place of orchards and farms and ranching and small businesses, and it has completely changed now, so that you have incredibly wealthy people and incredibly poor people and a growing gap. homelessness has increased dramatically. in the shadow of google, in the shadow of oracle, in the shadow of apple computer, you have people who are hungry. >> people had this believe that
states. it's mixing apples and oranges. i i agree with jorge complete. it's a symmetrical relationship. >> charlie: what people emphasize about fid oal's leadership in cuba is the very same thing you've been emphasizing about hugo chavez. the very same ideas. >> i think what's different about it is that tube a is an authoritarian state. venezuela has elections. you can complain about lack of procedurallism in venezuela. the debate is wide open. what they did was... >> there's no comparison. cuba has been and will remain to be for practical purposes a dictatorship. venezuela is not. >> i think the electoral process was not democratic. >> you mean procedural? there's no death squad? nothing compared to... >> there's no comparison. charlie: who is the next chavez in latin america? >> it could be carriya of ecuador but the problem is that ecuador is a much smaller country than venezuela. it doesn't have nearly as much oil. t he clrly a protege of hugo chavez and has the same rhetorical shoot from the hip style. it's somewhat mixed. i support some measures that he's undertaken. for example
Search Results 0 to 9 of about 10